Acacia Picks Up Stent Technology Portfolio

Acacia Research Corp. has acquired a patent for stent graft technology, the Newport Beach-based company announced Tuesday.

Stent grafts open up blood vessels for surgery and are most commonly used in coronary arteries.

Acacia has been on a patent buying spree this year and has recently targeted the medical device and diagnostic sectors for growth, according to Chief Executive Paul Ryan.

The company now controls more than 200 patent portfolios.

Acacia is undergoing a strategic shift to buy patents outright rather than licensing technology on behalf of companies. In February it raised $225 million through a stock sale to private investors to fund its growth strategy.

The company saw about $172 million in sales in 2011, up 31% from 2010.

Investors seemed to overlook the buy, with Acacia shares flat in afternoon trading on a market value of $1.33 billion.